Amaryllis: Complex Payments, Simplified.

Mark A. Bishopp, CEO “We are the example of what ‘good’ looks like specific to 3rd party payment models!”

The advent of digital payments sparked a subversive wave that engulfed conventional cash transactions. The benefits that came along with digital payments are numerous — cost effectiveness, safety, convenience, spend-tracking, and budget discipline among others. Today, everyone is fixated on using digital payment methods, and it has risen to become a worldwide trend. However, digital payments do have vast number of constraints. This “complex world of payments” does cause strife between buyers and sellers, and hindering the growth of many enterprises, which in turn creates a roadblock for businesses to implement a robust digital payment transaction framework.

In the bustling city of Tel Aviv, Israel, a company by the name of Amaryllis has designed a payment engine that supports omni-channel retail and 3rd party payment models that simplifies the complex world of payments between buyers and sellers. With an API-driven platform and a strategic partner-focused model, Amaryllis makes it easy for 3rd party payment companies to rapidly launch, scale, and efficiently manage complex seller-based payment models. “Built from the ground up, our configurable and modular cloud based solution provides the flexibility to take full control of the seller lifecycle and supports key complex payment requirements,” says Mark A. Bishopp, CEO of Amaryllis.

The company’s API-driven solution and open architecture enable seamless integration with even the legacy systems. Additionally, the platform is a complete toolset offered in the form of functional modules, which the users can opt for, based on their unique and selective business needs. From instant merchant onboarding with capabilities for risk profiles, AML/KYC checks, and alert notifications, to a robust fraud detection engine, which identifies, manages, and prevents suspicious and fraudulent activity, the platform is extensive.

The Amaryllis Platform imbibes transparency into the payment interactions for 3rd-party payment providers, merchants, and financial institutions. The solution brings forth standardization into the operational model of 3rd parties from a security and regulatory compliance perspective. From a technology standpoint, the platform can be utilized either as a complete, end-to-end payments platform or utilized as a single functionality (to maximize previous investments) which takes away the herculean ‘build-and-maintain’ tasks allowing 3rd parties to focus more on their core business.
One facet of Amaryllis that is unmatched by their competition is the ability to come in and consult their clients from a strategic advisory capacity first before ever talking about their technology solution. Their executive team has worked for Big 4 consulting firms, complex 3rd party models and card acquiring institutions in the past and as a result are best in class when it comes to understanding their client’s various business models.

Built from the ground up, our configurable and modular solution provides the flexibility to take full control of the seller lifecycle and supports key complex payment requirements

Digital Payment Platform

The platform provides automated, day-to-day reconciliation with processor and banking partners, in addition, to alert monitoring for exceptions or mismatches and multi-currency and data matching capabilities. It also offers full transaction visibility from processing to payout execution. Further, the management dashboard provides end-to-end reporting and analysis with easy access to all payment-related data.

Risk and compliance is another area that the Amaryllis Platform excels. The platform offers an approach that ensures merchants are compliant and operating in a safe and profitable manner. It offers a full-fledged suite of risk management tools, including a fraud detection engine, alerts, decision-making workflow, and dispute management system. The platform provides configurable alerts based on multiple parameters, triggered by transactional and account activities. The fraud and detection engine of the platform identifies, manages, and prevents suspicious and fraudulent activity, and the rule-based scoring includes an unlimited combination of rules. Further, users can automatically capture chargeback information and process, based on defined workflows. “Chargeback reports provide a comprehensive overview of the ability to drill down and review specific issues,” explains Bishopp.

One of the main reasons for the success of the Amaryllis Platform is its transaction and processing capabilities. It can accept any payment method including full support for alternative payments, and locally preferred payment methods. It allows users to optimize authorizations with intelligent transaction routing via a single point of integration. The multiple processing models allow full support for aggregation and direct to sub-merchant models. Each sub-merchant gets a unique identifier where all transactions are accumulated.
Billing is a crucial area when it comes to digital payment. The Amaryllis solution has unlimited splits and fees configurable at the sub-merchant level, and fees can be calculated as a percent, fixed amount, or even a combination of both. It also holds vital management tools that are principally used for services where payments are made at regular intervals. Seller Account Management is yet another stellar feature where users can create, modify, and change each seller account hierarchy, including financial information, service level plans, clearing plans, billing plans, and payouts.

Customer Challenges and Roadmap

It is often when the need for scalability arises that payment providers find themselves at a deadend, due to a lack of necessary toolsets. This was the case with one of Amaryllis’ clients—a competitor to Uber—who resorted to multiple disjointed platforms to match their consumer with a taxi and route the payment. Amaryllis was able to reconcile all of their information in a matter of hours, which others traditionally take many days to complete.

"There is a lot that goes behind getting a product delivered within two hours of placing the order. We have built a solution from scratch to ensure that banks, acquirers, merchants, and the sellers are covered to meet that requirement"

In another instance, an online grocery business that essentially enables brick-and-mortar grocery stores to sell online, found their existing solution to be rigid especially when it came to the ownership of their transactional data. Under such a predicament, Amaryllis was recommended to them by their acquiring bank. In a matter of six weeks, the client was able to migrate all of their business to Amaryllis as the sole technology platform which gave them full control and protection of merchant, customer, and transactional information.

Partnerships and strategic advisors always act as a boost to many companies and Amaryllis is no different. The company partners with a large number of exceptional organizations like Vantiv, Global Payments, Heartland, RPY, ePaymints, and more.

Plenty of companies offer digital payment solutions but only a handful offer solutions that tackle most of the underlying problems and embody quality. Amaryllis is one among them. With information analysis being the crucial tool to identify faulty transactions from the lot, Amaryllis plans to incorporate additional data analytics-backed security protocols into their platform. “There is a lot that goes behind getting a product delivered within two hours of placing the order. We have built a solution from scratch to ensure that banks, acquirers, merchants, and the sellers are covered to meet that requirement,” concludes Bishopp.


West Palm Beach, FL

Mark A. Bishopp, CEO

The Amaryllis Payment Platform imbibes transparency and security into the payment interactions among complex payment models, merchants, and acquirers